To take the sting out of energy procurement, energy buying software needs to put an emphasis on providing managers with relevant data at the right time. Open Energy Market’s CEO Chris Maclean explains why in this sponsored post.
At the start of a new year, high streets are packed with bargain hunters, certain that the January sales are the best time to fill their wardrobes with the best goods for the lowest prices. If only energy buyers were afforded that same luxury. Although many specialists profess their prophetic powers, there are no such certainties in the live commodity market. If there were, those prophets would have already cashed in their bitcoins and left the energy world far behind.
But a lack of certainty doesn’t mean buyers have to live in the dark, worrying what surprises lurk around the corner. Surprises can be minimised, and uncertainty can be bridged by good technology.
In this tech-led era, buyers should expect access to data that’s relevant, accurate and live. Data from multiple sources, bespoke to their needs, that gives them everything they require to analyse their portfolio and make informed strategy decisions. That includes efficiency, consumption and cost data, presenting them with a forecast that’s as accurate as possible. And that data must work for the buyer at all times.
Energy buyers don’t have January sales. Data must be ready for analysis whenever they need it, and reliably feed into other crucial pricing and risk mitigation tools that optimise their energy management and procurement. For that reason, reporting and forecasting is just the start of energy intelligence. An excellent software solution should be constantly innovating to reflect the fast-evolving energy sector, and providing more and better ways to access and use the right data.
Open Energy Market has been prioritising data that enables high quality reporting since its inception in 2013. Our platform holds a suite of essential tools that carry buyers all the way to their next energy contract, using consistent and accurate data throughout. It’s a system that protects a company’s bottom line, reliably presenting the closest thing to a forecast, and crucial peace of mind along with it.
Forecast reporting is an excellent way to see how a software platform will transform the way your company buys energy. But it’s not just an important indicator of energy software. It also helps keep surprises where they belong.
Have a go, using our open and free forecasting tool at info.openener.gy/forecasting